VANCOUVER, Feb. 7, 2013 /CNW/ - Amabro Investments Limited ("Amabro")
announces it acquired on February 6, 2013, in a private placement,
$500,000 aggregate principal amount of secured convertible debentures
("Debentures") of Plains Creek Phosphate Corporation ("Plains Creek")
due March 31, 2014. The Debentures bear interest at 10% per annum.
Every $1,000 principal amount of Debentures is convertible at any time,
at Amabro's option: (a) initially, into 10,000 common shares of Plains
Creek ("Common Shares") at a price of $0.10 per share; and (b) in the
event of a share consolidation by Plains Creek, at a conversion price
per share equal to the greater of (i) $0.01 per share times the
consolidation ratio, and (ii) the minimum allowable conversion price of
$0.10 per share under the policies of the TSX Venture Exchange. At the
time of Debenture conversion, any and all accrued interest is also
convertible at Amabro's option into Common Shares at the applicable
conversion price.

In connection with the issuance of the Debentures, Plains Creek agreed
to use its best efforts to cause a Common Share consolidation to become
effective on a 20-to-1 basis on or prior to March 31, 2013 (the
"Proposed Consolidation").

Assuming Amabro were to fully convert its $500,000 aggregate principal
amount of Debentures (but none of the interest) then:

if such conversion and exercise were to occur before the Proposed
Consolidation became effective, Amabro would acquire 5,000,000 Common
Shares upon conversion of the Debentures, representing approximately
1.2% of the then outstanding Common Shares; and

if such conversion and exercise were to occur after the Proposed
Consolidation became effective, Amabro would acquire 2,500,000
post-consolidation Common Shares upon conversion of the Debentures,
representing approximately 11.4% of the then outstanding
post-consolidation Common Shares.

Amabro acquired the Debentures for investment purposes and continues to
monitor the business, prospects, financial condition and potential
capital requirements of Plains Creek. Depending on its evaluation of
these and other factors, Amabro may from time to time in the future
increase or decrease its ownership, control or direction over the
common shares or other securities of Plains Creek through market
transactions, private agreements, subscriptions from treasury or
otherwise.

SOURCE: Amabro Investments Limited

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For further information, including a copy of the corresponding report filed with Canadian securities regulators, contact: